Metactive announces nearly $3M combined in funding round, government grant
March 8, 2018 | Bobby Burch
Fairway-based Metactive has raised a $1.2 million round to accelerate the development of its products for the treatment of neurovascular, peripheral vascular and structural heart diseases.
Dr. Nick Franano
The round included Kansas City-based Mid-America Angels, as well as Serra Ventures. Founded by CEO Nick Franano, Metactive has raised more than $10 million to date.
In addition to the round, Metactive announced Thursday it was awarded a $1.5 million SBIR (Small Business Innovation Research) grant from the National Heart, Lung, and Blood Institute of the National Institutes of Health to commercialize its embolic device for the occlusion of peripheral arteries and veins.
“This new investment capital and grant funding will be used to continue the development of our novel platform of embolic products,” Franano said in a release, “which we believe will provide physicians with devices that are exceptionally deliverable, can be placed with a high level of precision, are resistant to migration, and provide immediate, complete, and lasting occlusion.”
Embolization is a treatment that blocks the flow of blood in specific segments of arteries and veins, enabling doctors to divert blood away from cancerous tumors and other abnormal tissues. More than 150,000 peripheral vascular embolization procedures are performed each year around the world using coils and vascular plugs, which can be difficult to use and often result in incomplete treatment.
Franano also is the CEO of Flow Forward Medical.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Mental health startup Start Talking goes mobile, scores $150K in tax credits
Depression affects about one out of every 10 Americans, including at one time Start Talking founder Mark Nolte. While a rough time in his life, Nolte’s struggle with depression in 2010 eventually led him to launch a venture that’s more easily connecting people with the help they need. Lenexa-based Start Talking offers patients a psychotherapy…
Video: KC women in tech talk challenges, engagement
While Kansas City ranks as a top locale for ladies in technology, there’s still work to be done to create more gender diversity in the industry. This video — created in collaboration with Kansas City Public Television and videographer Brad Austin — explores some of the challenges that women face in a male-dominated field and how to engage more women…
3 local businessmen named EY’s Entrepreneur of the Year
Three Kansas City area businesspeople recently snagged one of the most prestigious awards for entrepreneurs. EY announced Monday the winners of the Entrepreneur of the Year 2015 for the central Midwest, which included three businessmen from the Kansas City metro area. Those receiving the commendation included: Jody Brazil, CEO of FireMon; Matthew Perry, President of…
Women flex their tech muscles at KC conference
Framed by a LEGO guitar and robotic vehicle, Rheanne Walton and Emma Howard anxiously review notes at their podium as dozens of technology experts await their pitch. The middle-school students are visiting the Kansas City Developers Conference to share the story of their all-girl robotics team, MindSTEM, and how it competes in the FIRST LEGO…